Machina Capital S.A.S. Raises Holdings in Cintas Corporation (NASDAQ:CTAS)

Machina Capital S.A.S. increased its holdings in Cintas Corporation (NASDAQ:CTAS) by 248.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 17,451 shares of the business services provider’s stock after acquiring an additional 12,436 shares during the period. Cintas makes up about 1.1% of Machina Capital S.A.S.’s holdings, making the stock its 11th largest holding. Machina Capital S.A.S.’s holdings in Cintas were worth $3,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. MJP Associates Inc. ADV increased its position in Cintas by 2.1% in the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock valued at $441,000 after acquiring an additional 50 shares during the period. Kathmere Capital Management LLC increased its position in Cintas by 4.1% during the 1st quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider’s stock worth $266,000 after purchasing an additional 51 shares during the period. Pinnacle Associates Ltd. increased its position in Cintas by 4.1% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,291 shares of the business services provider’s stock worth $265,000 after purchasing an additional 51 shares during the period. TIAA Trust National Association increased its position in Cintas by 1.0% during the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock worth $983,000 after purchasing an additional 52 shares during the period. Finally, Wellspring Financial Advisors LLC increased its position in Cintas by 4.6% during the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock worth $214,000 after purchasing an additional 52 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank Of Canada reissued a “sector perform” rating and set a $240.00 price target (up previously from $215.00) on shares of Cintas in a research note on Monday, June 9th. Robert W. Baird boosted their price target on Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Redburn Atlantic downgraded Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target for the company. in a report on Thursday, May 1st. Morgan Stanley boosted their price target on Cintas from $213.00 to $220.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Finally, Wells Fargo & Company upgraded Cintas from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $196.00 to $221.00 in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cintas presently has an average rating of “Hold” and an average price target of $224.54.

Insider Transactions at Cintas

In related news, Director Martin Mucci bought 1,200 shares of the firm’s stock in a transaction on Monday, July 21st. The stock was bought at an average price of $222.55 per share, with a total value of $267,060.00. Following the purchase, the director directly owned 2,621 shares of the company’s stock, valued at approximately $583,303.55. This represents a 84.45% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 15.00% of the company’s stock.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $221.20 on Thursday. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $221.30 and its two-hundred day moving average price is $208.81. Cintas Corporation has a 52-week low of $180.78 and a 52-week high of $229.24. The stock has a market capitalization of $89.32 billion, a P/E ratio of 50.16, a P/E/G ratio of 3.45 and a beta of 1.05.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the previous year, the company posted $3.99 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.